3:20 Update
Well I picked quite a time to start posting my swing trades. Thursday and Friday was the worst 2 day drop since 2008 and the first time markets have been off 10% from the highs since 2011. The market is about as oversold as I have seen it since 2008. So it does not get any more difficult then this for swing trading.
The idea is to manage your trades. Position size according to your bankroll. And finally do not trade on margin. If you follow the above your will stay out of trouble and be able to manage these difficult times. I was doing this during the 2008 financial crisis and this isnt near as bad as things were then. This is a blip compared to 2008. Now that isnt to say things cant develop into a 2008 scenario but I do not see it. The only thing that appears to me to be a bit different this time is you do not have Bernake or Greenspan at the helm. Either one of those would have calmed the markets by now by announcing no rate hikes and further easing in the credit markets. Now you do not hear much from Yellen and you get some of the Fed governors gratuitously stating they are in favor of hiking rates this month.
Right now the markets are off about 3/4 of a percent in the globex but that can change dramtically overnight…both on the upside and downside.
To give you an idea of the variety of swing setups I trade. The SPY/SSO trade is the strongest. Hitting 92% winners this year. The stock swing trade I made in Dis on Friday is in a category of trades that is 88% this year. These are the two of the strongest setups consistently.
My plan for Monday is to Manage the existing 5 trades that I have on now. And also to take a few more trades on Monday. I will consider the 2nd half of the SPY/SSO trade and will most likely put on a stock swing. In addition there are a few other setups that might develop Monday. I am sticking to the plan.
Bounces right now will be quick and come without warning. The will be very dramatic to the upside when they come. The idea is to be well positioned for them. As long as you are managing your trades and position sizing you will stay out of trouble. Do not get stubborn.
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Saturday we went 1-2 on our MLB plays. Winning with Houston +111 and losing with Atlanta +190 and Colorado +112. It was looking like Atlanta +190 was an easy winner as they had a 7-3 lead in the fifth. But that was short lived:( Also our NFL setup on Baltimore never had a chance.
Today 2 games that look good to me:
Sunday MLB Plays
Detroit +122
Houston +158
There are a few other games that have potential. I will update if they become clear.
Early MLB Weightings for Sunday
977 CLE – T Bauer 0
978 NYY – C Sabathia 0
965 TEX – C Hamels
966 DET – M Boyd 3+
953 PHI – A Nola
954 MIA – A Conley 1
951 ARI – C Anderson
952 CIN – R Iglesias 1
969 MIN – M Pelfrey 0
970 BAL – K Gausman 0
967 KC – E Volquez
968 BOS – E Rodriguez 3NO
957 MIL – M Garza 1
958 WAS – J Zimmermann
979 LAD – C Kershaw
980 HOU – L McCullers 4+
959 ATL – M Wisler 2+
960 CHC – J Hammel
971 TOR – R Dickey
972 LAA – G Richards 1
973 TB – J Odorizzi
974 OAK – K Graveman 1
961 STL – M Wacha
962 SD – C Rea 2
963 NYM – L Verrett
964 COL – D Hale 2++
975 CHW – J Danks 2
976 SEA – T Walker
955 SF – R Vogelsong 3.5???
956 PIT – F Liriano
I put ?? and No by ratings to express how I am evaluating the rating.
I will have some market comments later today. Should be an interesting week ahead.
RickJ
Rickjshandicappingpicks.com
twitter: rickjsportplays
Twitter: rickjswingtrade
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